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Christopher Davis: Q3 2023 portfolio update

Davis Funds, led by Christopher Davis, has just released their Q3 2023 letter to shareholders.

Here they describe exploiting the volatility in the market to buy up and sell the big tech companies Amazon, Meta and Alphabet. For example, they bought a large position Meta last year when the price dropped significantly and have continuously trimmed the position this year as the price has approached their fair value assessment.

There are also a few new names and increased positions in the portfolio, with particular emphasis on the healthcare sector as interesting.

In the attractive healthcare sector, we look beyond the obvious to identify businesses that simultaneously have exposure to this growth industry and also trade at low prices. We’re especially drawn to companies like Cigna Group, Viatris and Quest Diagnostics, whose products or services play a part in helping to mitigate healthcare’s constantly rising costs.

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Disclaimer of liability

The above has been prepared by Børsgade ApS for information purposes and cannot be regarded as a solicitation or recommendation to buy or sell any security. Nor can the information etc. be regarded as recommendations or advice of a legal, accounting or tax nature. Børsgade cannot be held liable for losses caused by customers’/users’ actions - or lack thereof - based on the information in the above. We have made every effort to ensure that the information in the above is complete and accurate, but cannot guarantee this and accept no liability for errors or omissions.

Readers are advised that investing may involve a risk of loss that cannot be determined in advance, and that past performance and price development cannot be used as a reliable indicator of future performance and price development. For further information please contact [email protected]

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